From casino manager to iGaming CEO – journey and lessons learned
The iGaming industry is a fast-paced, ever-evolving world. To succeed, you need more than just a great idea; you need grit, resilience, and a deep understanding of the market. In this blog post, we delve into the inspiring journey of Alexis Wicén, CEO of Unibo, a company revolutionizing online casino management. We uncover his key takeaways, biggest mistakes, and invaluable advice for aspiring entrepreneurs.
From passion to profit: A 15-Year odyssey in iGaming
Alexis’s story begins in 2008, a time when the online gaming landscape was significantly different. His passion for games, coupled with a keen eye for opportunity, led him on a remarkable career path. Starting as a sports betting analyst, he quickly climbed the ladder, holding positions as a casino manager and managing director at prominent companies like Red Bet and Betson Group. This experience provided a solid foundation for his entrepreneurial endeavors. His move to Malta in 2010, driven by the desire to secure an MGA license, proved to be a pivotal moment.
The birth of Unibo – filling a critical niche
Five years ago, Alexis leveraged his extensive experience and assembled a talented team to launch Unibo and Scatters. Unibo, a unified back-office solution for online casinos, addresses a critical need in the industry: streamlining the management of promotions across multiple game providers. This innovative tool saves operators countless hours spent on non-innovative tasks, freeing them to focus on what truly matters – enhancing the player experience and driving innovation. This focus on a specific niche, rather than a Minimum Viable Product (MVP) without market demand, proved to be a key factor in Unibo’s success.
Lessons learned: mistakes, adaptations, and the power of focus
Alexis openly shares his entrepreneurial journey, highlighting both triumphs and setbacks. One of his biggest mistakes? Spreading his focus too thinly across multiple projects. He emphasizes the importance of prioritizing tasks based on their return on effort, focusing on the big-picture items that significantly impact progress. He also stresses the importance of knowing when to cut losses and move on from failing projects, avoiding the “sunk cost fallacy.”
His management style is a blend of data-driven decisions (KPIs) and intuition honed from years of experience. He notes a surprising aspect of entrepreneurship: the sheer volume of work across all business aspects, from legal and finance to constant problem-solving.
Outsourcing and team dynamics – navigating global collaboration
Unibo’s development journey involved outsourcing, initially to Poland and later to Vietnam. Alexis shares valuable insights into the challenges and successes of this approach. He highlights the importance of having in-house expertise, especially a strong CTO, to ensure effective communication and project management. He also emphasizes the need for detailed task definitions when outsourcing, particularly when working with teams in different time zones and cultural contexts. He found that larger Vietnamese companies were better equipped to handle the rapid scaling and changes needed for an MVP. He also notes the importance of strong communication tools like Slack, and the surprising resurgence of IRC for specific team needs.
The impact of AI – a game changer for iGaming
Alexis sees AI as a game-changer for the iGaming industry. He uses AI tools like ChatGPT, Midjourney, and Synthesia to streamline various aspects of his business, from content creation to communication. He acknowledges the potential for job displacement but also highlights the creation of new opportunities. He believes AI will significantly impact player behavior, enabling personalized campaigns, responsible gambling tracking, and the detection of bonus/tournament abuse.
Player retention – beyond bonuses and wagering requirements
Alexis offers valuable insights into player retention, emphasizing the importance of going beyond surface-level motivations. He highlights the significance of good service, quick payouts, and targeted communication. He cautions against relying solely on large deposit bonuses, suggesting that smaller, more frequent rewards are more effective in the long run. He also notes that the process of verification and document submission is a significant hurdle for new players, and streamlining this process is crucial for retention.
Building a business with friends – a balancing act
Alexis also shares his experience of building Unibo and Scatters with friends. He acknowledges the challenges and rewards of this approach, emphasizing the importance of clear communication and defined roles. While he maintains strong friendships with his co-founders, he also recognizes the need to separate work and personal life.
Looking ahead – continued growth and global expansion
Alexis’s journey is far from over. He plans to attend numerous iGaming conferences across Europe this year, showcasing Unibo’s innovative solutions to a global audience. His story is a testament to the power of passion, perseverance, and a willingness to learn and adapt in a dynamic industry. His insights offer invaluable lessons for anyone looking to make their mark in the exciting world of iGaming.
This article is based on an episode of the CEOpen Mic podcast. For the full conversation and more insights, tune in to CEOpen Mic on YouTube and Spotify – don’t forget to subscribe so you never miss an episode!
